Do Rainwater Tanks Save Money?

If you're considering investing in a rainwater tank but you're not entirely convinced yet, it's important to consider all of the advantages of having such a tank. Some of these advantages are practical: rainwater tanks offer a convenient and passive way to collect rainwater to water your garden or wash your car even when there are water restrictions curtailing water usage.
 
But the advantages of having a rainwater tank aren't just practical; they can also save you money in the long run. Many people are put off installing rainwater tanks by the initial cost of the installation, but they might change their minds if they realise just how much money a rainwater tank can save you over its lifespan.

Yes, rainwater tanks can really save you money. They might seem expensive to install at first, but by using collected rainwater for suitable tasks like watering the lawn you can make significant savings on your water bill every year. Multiply this annual saving by around 25 years - the expected lifespan of a good rainwater tank - and you'll see that the financial savings you can make by installing a tank are much higher than the cost of installation.
 
Of course, rainwater tanks also carry small running costs such as the electricity needed for the tank's water pumps, but these are relatively small and don't make a significant impact on the savings you'll make by using a rainwater tank over time.

Viewing your rainwater tank as an investment is the right way to look at it. Not only does a rainwater tank slowly save you money on your water bill as each year passes, but this saving will increase as inflation - and water bills - increase. The cost of 100 litres of water is higher now than it was 10 years ago, and it will be higher in 10 years than it is today. Investing in a rainwater tank now is the best way to protect yourself from water cost increases and reduce your household bills in the long term. A good rainwater tank can last for 25 years or more, during which time it can save you hundreds of pounds on your water bill.

PACIA estimates that it takes between 5 and 10 years for the savings made using a rainwater tank to 'pay back' the cost of itself when used in an industrial setting. In a residential setting, it may take a little longer to pay this cost back, but the cost of your installation will be cheaper from the start. In both commercial and domestic settings, after 10 years or when you've saved back your initial investment on the tank, all savings made after this point are, effectively, 'profit'.

With the price of mains water increasing on average every year, it's important to protect yourself from future price rises while you can. Contact us today at Nudges Plumbing to find out more about our rainwater tank installation services in Dubbo.